Salient to Investors:

The Fed needs to be audited to determine if it has manipulated financial markets, which is not in its jurisdiction.

Autonomy for the Fed ended when it started playing footsie with Wall Street. The bubble in stock prices was created by years of risky Fed policy. Even the FRB of St. Louis has concluded that QE has not helped the economy, but QE did force savers into the stock market.

On 8/24/15, the Dow was down 1,089 early in the day before closing 588 points down. Mysterious and massive overnight buying of S&P futures – a remedy proposed by Robert Heller in 1989 helped the Dow rise 442 on 8/25/15 before closing down over 200 points. More mysterious buying of S&P futures overnight helped stocks open higher on 8/26/15 and close higher.

William Dudley’s comments were wrongly attributed to the recovery because they were made after the stocks had already risen and fell when he dismissed the idea of more QE.

Money managers do not want stocks to drop right before their performance is locked in and reported to clients.

The Fed helping the market too often is dangerous because a) traders start perilously believing there is no risk in the stock market, b) investors have no way of knowing the true value of stocks, and c) elite Wall Street insiders always know what the Fed is doing and thus profit at the expense of ordinary investors.

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